TikTok's parent company ByteDance plans to expand its music services globally

Sources familiar with TikTok's parent companyByteDance confirmed that the firm has recently begun talks with other music apps and platforms to expand its streaming service worldwide to compete with music industry leaders like Spotify.

ByteDance recently introduced 'Resso,' a music service that is currently available in Asia (India, Indonesia) and Brazil as well. The company is aiming to extend its streaming worldwide and to make it easier for customers to stream on the short-video app, TikTok. The United States won't be a part of this, The Wall Street Journal reported.

The parent company is currently negotiating with a rising music industry service.

The short-video app has helped several songs become megahits by going viral. The audience on the social media platform increased tremendously during the Covid lockdown.

To expand its service, the Chinese streaming app needs to reach an agreement on negotiating terms with all major music labels as revenue through Resso has been a matter of concern as it is difficult to make money through it.

Resso offers both an on-demand subscription tier and a free, ad-supported tier, much like Spotify's "freemium." Currently, it appears that the company will have to work for its expansion.It is also working on how to work with TikTok to expand its services and earn money.

(With inputs from agencies)

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